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SBCERA to commit $150m to real estate, debt and infrastructure

by Jody Barhanovich

The $9.1 billion San Bernardino County (Calif.) Employees’ Retirement Association plans to commit $150 million to real estate, debt and infrastructure, according to board meeting documents.

According to the document, a potential commitment would be to the Kayne Anderson Energy Funds series, whose strategy is partnering with high-quality management teams focused on the upstream oil and gas sector of North America.

The most recent fund in the series, Kayne Anderson Energy Fund VII, held a $2 billion final close in 2016. Kayne Anderson Energy Fund VI closed in 2013 with $1.6 billion in equity commitments. Kayne Anderson Energy Fund V closed in 2009 with $820 million and Kayne Anderson Energy Fund IV closed in 2006 with $950 million.

The new investment plan will be a part of a Master Custodial Account with Kayne

Anderson Capital Advisors. The account will run over a multi-year period and can increase in size in the future. The plan is subject to due diligence and negotiation of legal documents.

 

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